BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The European markets were stuck in a sideways trend throughout Monday's session and ended the day with mixed results. Shares of exporters remained under pressure as the Euro continues to strengthen against the dollar. Trading activity was also rather subdued due to the holiday in the United States.
The Euro has advanced to over a 3-year high against the dollar as speculation has intensified that the European Central Bank is preparing to unwind its massive stimulus sooner than anticipated.
Hopes for a shift in the ECB stance heightened after the release of the minutes from its most recent meeting last week showed that it may revisit its communication stance in early 2018.
Also, news of a breakthrough in exploratory talks between German political parties in the formation of a new German government ended months of political uncertainty in Europe's largest power house.
The pan-European Stoxx Europe 600 index weakened by 0.08 percent. The Euro Stoxx 50 index of eurozone bluechip stocks decreased 0.02 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, lost 0.09 percent.
The DAX of Germany dropped 0.34 percent and the CAC 40 of France fell 0.13 percent. The FTSE 100 of the U.K. declined 0.12 percent and the SMI of Switzerland finished lower by 0.10 percent.
In Paris, Airbus fell 0.44 percent after it has been fined 104 million euros for a dispute dating from 1992 over missile sales to Taiwan by the Matra group, which was later acquired by the aerospace giant.
In London, Carillion shares were suspended after the construction firm said it has filed for compulsory liquidation with immediate effect. The news provided a boost to its rivals. Serco jumped 7.39 percent and Interserve rallied 2.04 percent.
Automotive and aerospace components company GKN climbed 4.14 percent on reports that it is mulling the sale of its aerospace arm.
Premier Foods rose 3.39 percent. The company said that discussions to sell its Batchelors' brand have not yet gone beyond 'an exploratory stage'.
Fiat Chrysler Automobiles NV jumped 2.14 percent in Milan. Chief Executive Officer Sergio Marchionne reportedly said the company can double profit within five years by exploiting the potential of the Jeep brand.
Mining equipment maker Metso plunged 9.84 percent in Helsinki after its Q4 profit missed expectations.
The euro area trade surplus increased in November from October, data from Eurostat showed Monday. The trade surplus rose to a seasonally adjusted EUR 22.5 billion from EUR 19 billion in the previous month.
UK house prices increased in January, while sellers in the capital cut their selling prices, data from the property website Rightmove showed Monday. Asking prices climbed 0.7 percent month-on-month in January, reversing a 2.3 percent decline a month ago.
Copyright RTT News/dpa-AFX